Australian Merino wool prices have enjoyed an extended period of high prices, particularly for superfine wool. This lift in Merino wool prices has been in line with a general lift in asset prices (such as equity markets) and the prices of some other commodities. For example, the EMI in US$ is currently up by 20% year-on-year, while The Economist magazine’s Metals Index is up by 32%. The Economist’s All Items Index is up by only 7%, held back by lower food prices. Oil prices are only 3% higher, having surged earlier in 2017. By comparison, the EMI in US$ is up by 20%. The cyclical upturn for commodities in general began in the second half of 2016, continuing throughout 2017 to date. But, the cyclical upturn in wool prices has been for a much longer period (with some ups and downs).
Further details including a chart showing the long term trends in commodity price cycles as well as the cycles in the Australian EMI is available in the NCWSBA's Weekly Newsletter. Available to members of NCWSBA.